Gold surrenders gains after US data

Gold prices surrendered gains as USD strengthened after the data in the US showed a sharp rise in the durable goods orders in January.

Nears hourly 100-MA support

Prices neared hourly 100-MA located at $1224.30 levels. The data in the US showed orders for all durable goods rose 4.9%, bettering the estimated rise of 2.5% following Dec’s 5% drop. Consequently, the USD index erased losses to trade moderately positive on the day around 97.60 levels.

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